Japanese Yen Weakens to the Lowest Level in Eight Months Against the US Dollar

The Japanese yen has weakened to trade around an eight-month low against the US dollar over the increasing optimism about the signing of the

USD/JPY - US dollar vs. Japanese yen

The Japanese yen has weakened to trade around an eight-month low against the US dollar over the increasing optimism about the signing of the phase one trade deal between the US and China. At the time of writing, USD/JPY is trading around 110.09.

The mood in the markets is upbeat as the US and China get ready to sign the partial trade deal which is expected to help resolve the trade conflict that has impacted economic growth not just in the two nations, but affected global economic growth as well. An improvement in the market sentiment has diminished the appeal for the safe haven currency Japanese yen.

The yen has weakened further after the US Treasury dropped the currency manipulator tag it had previously assigned to China at the height of the trade war earlier in 2019. This is being seen as yet another positive sign that the US is serious about working out its differences with China.

Since the beginning of this year, the Japanese yen has already lost around 1.3% of its value over rising hopes for the trade deal.

ABOUT THE AUTHOR See More
Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

Related Articles

Comments

0 0 votes
Article Rating
Subscribe
Notify of
0 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

HFM

Doo Prime

XM

Best Forex Brokers